[lmi-commits] [lmi] master aace4c2 4/6: Clarify DB_AnnInterestRate7702

[Greg Chicares]

branch: master
commit aace4c25082cc5c55c99eb6dd2e14b5a83799a3c
Author: Gregory W. Chicares <gchicares@sbcglobal.net>
Commit: Gregory W. Chicares <gchicares@sbcglobal.net>

    Clarify DB_AnnInterestRate7702
    
    H.R. 6800 calls this the "applicable accumulation test minimum rate",
    which is unfortunate because it's the everything-but-GSP rate.
    
    The GSP rate is "the applicable accumulation test minimum rate (as
    defined in subsection (b)(3)) plus 2 percentage points".
    
    Thus, there are two interest rates, X and X+0.02, and it suffices to
    store only X in the database.
---
 dbnames.xpp | 2 +-
 1 file changed, 1 insertion(+), 1 deletion(-)

diff --git a/dbnames.xpp b/dbnames.xpp
index 17482fa..53f530e 100644
--- a/dbnames.xpp
+++ b/dbnames.xpp
@@ -68,7 +68,7 @@
 {DB_AllowCvat,DB_Topic_7702And7702A,"AllowCvat","Allow cash value accumulation 
test: 0=no, 1=yes",}, \
 {DB_AllowGpt,DB_Topic_7702And7702A,"AllowGpt","Allow guideline premium test: 
0=no, 1=yes",}, \
 {DB_AllowNo7702,DB_Topic_7702And7702A,"AllowNo7702","Allow 7702 to be ignored 
(foreign): 0=no, 1=yes",}, \
-{DB_AnnInterestRate7702,DB_Topic_7702And7702A,"AnnInterestRate7702","Annual 
statutory 7702 and 7702A interest rate, e.g. 0.04 for pre-2021 life-insurance 
contracts",}, \
+{DB_AnnInterestRate7702,DB_Topic_7702And7702A,"AnnInterestRate7702","Annual 
statutory 7702 and 7702A interest rate (all but GSP), e.g. 0.04 for pre-2021 
life-insurance contracts",}, \
 {DB_MlyDiscountRate7702,DB_Topic_7702And7702A,"MlyDiscountRate7702","Monthly 
rate (12 times i upper 12) for discounting NAAR for DCV only, e.g., 0.00246627 
for a 3% annual rate",}, \
 {DB_Irc7702Obreption,DB_Topic_7702And7702A,"Irc7702Obreption","Prevent the 
product verifier from treating a frank error as such, due to some indult): 0=no 
[other values to be added later]",}, \
 {DB_CorridorWhence,DB_Topic_7702And7702A,"CorridorWhence","Source of CVAT 
'corridor' factors: 0=first principles, 1=table",}, \